199A workload; TACs on the decline; dysfunctions; and other highlights from our favorite tax bloggers. One big bite Procedurally Taxing (http://procedurallytaxing.com): Few penalties have the bite of the FBAR penalty — especially in cases such as the one cited this week, in which the Court of Federal Claims opined that the taxpayer was liable for
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There’s a debate going on about public employee pensions. One study finds that government pensions have become more generous over the years. But a prominent academic replies that public sector retirement benefits have remained steady in generosity and taxpayer costs have actually fallen because public employees are paying more for their pensions. Who’s right? Me,
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A recent headline estimated the potential market for the Opportunity Zones program, the new tax-break that allows investors to defer taxes on realized capital gains with investments into “O-Funds” with the intention of incentivizing long-term investment in low-income communities in the U.S., at an eye-popping $6 trillion[1]. Excitement has followed as developers and fund managers
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Long-awaited and highly anticipated proposed regulations for Code Section 199A, the new 20 percent deduction on “qualified business income” of pass-through entities, were released August 8 by the Treasury Department and the Internal Revenue Service, and experts are saying they’re broadly taxpayer-friendly. “The government did a good job of responding to practitioner concerns during the
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Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s post whether continued income can increase benefits amounts, delaying past FRA, sequencing survivor and retirement benefits and the potential effects of other retirement systems on Social Security benefits. Larry Kotlikoff is
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